The Implications of Credit Suisse's Collapse

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The case says that FINMA as an organ of the Swiss state is obliged to follow these constitutional principles. It's hugely significant, really, because this is Switzerland and you'd never have to worry about your assets being expropriated in some kind of extraordinary situation. Whether some of those claims are true or not, who knows,. The Swiss government has a very particular view on that, that it disputes strongly that this was an emergency situation which could have had catastrophic consequences if it hadn't been dealt with.

Regional banks across the US have largely stopped the massive outflow of deposits after the collapse of Silicon Valley Bank, investors representing $4.5bn of wiped-out Credit Suisse bonds have filed a lawsuit against Switzerland’s banking regulator, and the FT’s Brooke Masters argues the US court battle over regulator approval of an abortion pill could have a chilling effect on the country’s pharmaceutical industry.

Mentioned in this podcast:

Stability after SVB’s collapse comes at a price for US regional banks

Credit Suisse investors sue Swiss regulator over bond wipeout

The abortion pill case is a disaster for innovation everywhere

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.